Oil prices climb as US, Iranian attacks stoke fears of escalation

Oil prices are rising due to renewed tensions in the Middle East following exchanges of fire between the US and Iran. Brent crude topped $91 a barrel, up more than 2.5% from the previous day. US President Donald Trump pledged to respond to Iranian strikes on bases in Jordan, while a tanker was struck by projectiles in the Strait of Hormuz, with no casualties reported.